MANAGEMENT BY OBJECTIVES Definition

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MANAGEMENT BY OBJECTIVES (MBO) is a management theory that calls for managing people based on documented work statements mutually agreed to by manager and subordinate. Progress on these work statements is periodically reviewed, and in a proper implementation, compensation is usually tied to MBO performance.

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INTERIM DIVIDEND is the declaration and payment of a dividend prior to annual earnings determination.

TRANSPORTATION OUT is part of cost of selling therefore included as selling expense, i.e. part of SG&A.

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